Note that starting in tax year 2021, your net operating loss deduction is limited to 80% of your taxable income. For example, if your taxable income is $100k, you can claim a maximum NOl deduction of ...
Section 382 of the Internal Revenue Code generally requires a corporation to limit the amount of its income in future years that can be offset by historic losses (i.e., net operating loss ...
Editor: Greg A. Fairbanks, J.D., LL.M. In response to federal changes to net operating losses (NOLs) and fluctuating fiscal conditions, several states have recently enacted noteworthy legislation that ...
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